Baltimore Business Journal: Two Cecil County Banks Miss Payments to Federal Government

From the Baltimore Business Journal . . .

Five Maryland banks [including two in Cecil County] were among 142 across the country that missed a Feb. 15 deadline for paying preferred stock dividends to the U.S. Treasury Department under the Troubled Asset Relief Program, according to a report released Wednesday by SNL Financial.

The five state banks that deferred making the February payment were Cecil Bancorp Inc. of Elkton (OTC: CECB), Baltimore-based Harbor Bankshares Corp., Dundalk-based Patapsco Bancorp Inc. (OTC: PATD), Oakland-based First United Corp. (NASDAQ: FUNC) and Rising Sun Bancorp in Rising Sun

article continues on BaltimoreBusiness Journal

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7 responses to “Baltimore Business Journal: Two Cecil County Banks Miss Payments to Federal Government

  1. Yet another reason why TARP was a terrible idea. . . . . government should not be in the business of bailing out the private sector. True capitalism means that you can be successful and do well, but that you also accept the risk.

    • Are you in favor of government funding for the West Cecil Health Center?

    • Is Ted Patterson in favor of bankruptcy protection. Isn’t that bailing out the private sector by cheating unpaid creditors and employees? If you accept the risk and fail, shouldn’t you be forced to pay your bills?

    • So, Ted Patterson, what is your position on bankruptcy protection ? Come out of your burrow.

  2. Hey Ted Patterson, are you in favor of bankruptcy protection, or not? Isn’t that a government bailout via OPM (other people’s money)? Doesn’t seem “fiscally conservative” to me. More like a “Nanny State”.

    • Ted,
      Please state your position on bankruptcy protection. You say “If you accept the risk and fail, shouldn’t you be forced to pay your bills?”. Following that logic it seems that you believe filing for bankruptcy protection is not a “rock solid conservative ideal”. Please advise.

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